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Berkshire Global Advisors acted as financial advisor to Tritax Management LLP
  • has agreed to sell a majority interest to
  • Berkshire Global Advisors acted as financial advisor to Tritax Management LLP

  • Date: December 2020
  • Sector: Private Markets - Real Estate / Assets
  • Sub-Sector: Real Estate
  • Region: EMEA
  • Seller AUM: $6.8 Billion
  • Seller Details:
    Tritax Management LLP (“Tritax”) is a specialist European logistics real estate fund manager with approximately £5.1 billion assets under management as at 30 June 2020. The team has significant expertise within the logistics sector, from large warehouses occupied by major online retailers through to ‘last mile’ suburban assets. Among its mandates, Tritax manages two European listed industrial logistics funds, Tritax Big Box REIT plc and Tritax EuroBox plc.

    Buyer Details:
    Aberdeen Standard Investments (“ASI”) manages £455.6 billion of diversified assets worldwide and is one of Europe’s largest real estate investment managers, managing £37.0 billion of real estate assets across UK, Europe and Asia. Aberdeen Standard Investments employs a dedicated team of 270 real estate investment professionals across 19 offices globally.

    Transaction Summary:
    Aberdeen Standard Investments (“ASI”) will initially acquire a 60% of ownership interest in Tritax Management LLP (“Tritax”), with both parties aligned on the future direction and growth trajectory of the business. The structure of the transaction ensures the long-term retention of existing Tritax clients, employees and partners along with the attraction of new ones. Tritax’s management will lead ASI Real Estate’s Global Logistics Team. The aim is to ensure that the agile and entrepreneurial culture at Tritax is retained while benefitting from the breadth and depth of ASI’s global investment expertise.

    The transaction will enhance ASI capabilities and skillsets, diversify revenue and provide significant growth opportunities in the dynamic and expanding logistics sector. The investment signals a step change for ASI in this key growth area, fulfilling its strategy of providing deep sector specialism for its clients.